618 Tracy St · Utica, NY 13501

$95,000

6 bd · 2.0 ba · 1,996 sqft · SingleFamily public records · 121 Days on market

Built 1900 6,534 sqft lot $48/sqft · 43% below area Est $168k · 43% under

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Why this score? — see what drove the A grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't miss this two-family opportunity located on a high-demand college rental street. Each unit offers 3 bedrooms and 1 full bath, making it well-suited for student housing or long-term rental. Just a 1-minute drive to Pratt Munson College of Art & Design and approximately a 10-minute walk to public transportation. Features include off-street parking, a backyard, and original historic details with hardwood floors ready to be restored. Property is being sold as-is; cash buyers preferred. Interior photos available upon request for serious inquiries only. Price reflects work needed, offering strong value-add potential.

Key facts

• Backyard
• Off-street parking
• Hardwood floors

Tags

• TWO-FAMILY OPPORTUNITY
• OFF-STREET PARKING
• BACKYARD
• ORIGINAL HISTORIC DETAILS
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 7.7% in Utica — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#104 in NY, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Utica City School District (urban): math 33% / reading 38% proficiency, ranked #562 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 143 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• This rent runs 44% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $95k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.04% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.32%
• DSCR: 2.79
• GRM: 4.1

CMA / ARV

• ARV (median comp): $167,509
• List price: $95,000
• Delta: -43.29%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1420 Lenox Ave	0.48mi	5/2.0 (-1)	2,058 (+3%)	8mo	$150,000	$73	61
111 Hobart St	0.20mi	5/1.5 (-1)	1,848 (-7%)	18mo	$154,000	$83	56
1200 Noyes St	0.51mi	6/2.0	2,158 (+8%)	12mo	$155,000	$72	52
1235 Walnut St	0.62mi	6/2.0	2,139 (+7%)	18mo	$160,000	$75	44
1214 Noyes St	0.56mi	5/2.0 (-1)	1,750 (-12%)	9mo	$125,000	$71	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.5%
• Equity multiple: 5.09×
• Total profit: $108,676
• Equity at exit: $85,584

10-year hold

• IRR: 49.0%
• Equity multiple: 11.35×
• Total profit: $275,301
• Equity at exit: $184,564

Cash invested: $26,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13501

• Home prices YoY: 5.6%
• Active inventory: 143
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $894

Break-even live

Break-even rent $802

Max offer price $95,000

Occupancy floor 49%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-30
   days on market $95,000 Active 121 DOM
2. 2026-02-16
   price $95,000 631-char remark

   Show marketing remark (631 chars)

   Don't miss this two-family opportunity located on a high-demand college rental street. Each unit offers 3 bedrooms and 1 full bath, making it well-suited for student housing or long-term rental. Just a 1-minute drive to Pratt Munson College of Art & Design and approximately a 10-minute walk to public transportation. Features include off-street parking, a backyard, and original historic details with hardwood floors ready to be restored. Property is being sold as-is; cash buyers preferred. Interior photos available upon request for serious inquiries only. Price reflects work needed, offering strong value-add potential.

3. 2026-01-29
   listed $100,000 Active 631-char remark

   Show marketing remark (631 chars)

   Don't miss this two-family opportunity located on a high-demand college rental street. Each unit offers 3 bedrooms and 1 full bath, making it well-suited for student housing or long-term rental. Just a 1-minute drive to Pratt Munson College of Art & Design and approximately a 10-minute walk to public transportation. Features include off-street parking, a backyard, and original historic details with hardwood floors ready to be restored. Property is being sold as-is; cash buyers preferred. Interior photos available upon request for serious inquiries only. Price reflects work needed, offering strong value-add potential.

4. 2009-09-25
   soldstatus $53,000 299-char remark

   Show marketing remark (299 chars)

   Lovely museum-district Eastlake home which simply exudes warmth and charm throughout! All the history is here: beautiful woodwork, slate and marble fireplaces and Rochester hardwoods, blended with all the important updates like roof, driveway, furnace, elec. & plumbing. A piece of Live-In Art!

5. 2009-09-25
   soldstatus $53,000

   Show marketing remark (299 chars)

   Lovely museum-district Eastlake home which simply exudes warmth and charm throughout! All the history is here: beautiful woodwork, slate and marble fireplaces and Rochester hardwoods, blended with all the important updates like roof, driveway, furnace, elec. & plumbing. A piece of Live-In Art!

6. 2009-09-23
   soldstatus $53,000
7. 2009-03-26
   listed $54,900 299-char remark

   Show marketing remark (299 chars)

   Lovely museum-district Eastlake home which simply exudes warmth and charm throughout! All the history is here: beautiful woodwork, slate and marble fireplaces and Rochester hardwoods, blended with all the important updates like roof, driveway, furnace, elec. & plumbing. A piece of Live-In Art!

8. 2009-03-26
   listed $54,900

   Show marketing remark (299 chars)

   Lovely museum-district Eastlake home which simply exudes warmth and charm throughout! All the history is here: beautiful woodwork, slate and marble fireplaces and Rochester hardwoods, blended with all the important updates like roof, driveway, furnace, elec. & plumbing. A piece of Live-In Art!

9. 2007-10-14
   historical
10. 2007-04-17
    listed $65,900
11. 2005-10-06
    historical
12. 2005-10-06
    historical
13. 2005-06-05
    listed $69,900
14. 2005-06-05
    listed $69,900
15. 2003-10-30
    soldstatus $34,800
16. 2003-10-29
    soldstatus $34,800
17. 2003-08-01
    listed $32,500
18. 2000-02-28
    soldstatus $14,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,153 · $96/mo
• Projected year-2 tax: $1,379 · $115/mo
• Expected delta: +$226/yr (+$19/mo · 19.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,203
• − Mortgage interest: −$5,321
• − Property taxes: −$1,153
• − Insurance: −$475
• − Repairs & maintenance: −$1,856
• − Management: −$1,856
• − Depreciation: −$2,764
• Taxable income: $9,778
• Est. tax owed @ 24.0%: −$2,347
• After-tax cash flow: $8,378/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Utica City School District
• NCES district ID: 3629370
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 38% ▲ 2.00%
• Median HH income: $31,834
• Composite: 29.01/100
• National rank: #6613
• State rank: #562 of 590 in NY

Livability — Utica

• Score: 80/100
• State rank: #104
• US rank: #1589

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Utica, NY
• County: Oneida County · 89,710 people
• City population: 72,968
• Metro: Utica-Rome, NY
• Population (ZIP): 38,931
• Household income: $52,548
• Rent vs Own: 49.2% rent · 50.8% own
• Severe rent burden: 2251.0

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 49% Two or more races 15% Hispanic / Latino 14% Black 14% Asian 14%
• Hispanic origin (detail): Puerto Rican 8% Dominican 4%
• Common ancestry: American 8% Romanian 3% Lithuanian 1%
• Foreign-born: 25% · Canada, Philippines, Vietnam
• Languages at home: 62% English-only · Other Asian/Pacific 11% Russian/Polish/Slavic 10% Spanish 9%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.28%
• Current HPI: 382.3726
• Rent YoY: —
• Metro: Utica-Rome, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+546.3% since first listed

17 events — show timeline

• 2026-02-16 Price Changed $95,000 Global MLS
• 2026-01-29 Listed $100,000 Global MLS
• 2009-09-25 Sold (MLS) $53,000 CNYIS
• 2009-09-25 Sold (MLS) $53,000 CNYIS
• 2009-09-23 Sold (Public Records) $53,000 Public Records
• 2009-03-26 Listed $54,900 CNYIS
• 2009-03-26 Listed $54,900 CNYIS
• 2007-10-14 Listing Removed — CNYIS
• 2007-04-17 Listed $65,900 CNYIS
• 2005-10-06 Listing Removed — CNYIS
• 2005-10-06 Listing Removed — CNYIS
• 2005-06-05 Listed $69,900 CNYIS
• 2005-06-05 Listed $69,900 CNYIS
• 2003-10-30 Sold (MLS) $34,800 CNYIS
• 2003-10-29 Sold (Public Records) $34,800 Public Records
• 2003-08-01 Listed $32,500 CNYIS
• 2000-02-28 Sold (Public Records) $14,700 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,153 · +5.6% YoY. Source: county tax records.